Quarterly Report
Q2 2022
Dear Investors,
We are pleased to present our first quarterly report for the Alturas Business Fund! Starting Alturas Business Partners and launching the Fund was the culmination of many years of preparation. We are passionate about operating businesses, unlocking potential within our employees, and being great partners. The Fund creates a strong, aligned, and long-term partnership with you, our investors, our employees, and the Fund that we cannot wait to operate and grow for decades to come.
We learned a lot from Alturas Capital Partners experience growing the Alturas Real Estate Fund. Those learnings include the importance of economic alignment with our partners, a long-term focus, evergreen businesses, conservative investing, maintaining a margin of safety, and looking for value every day. We look forward to continuing to implement and improve on these learnings as we apply them in The Alturas Business Fund.
We acquired Idaho Fitness Factory on July 1, 2022 which provided many of you, our investors, with the opportunity to invest in the Fund. We are excited about our opportunity to partner with the existing management team to operate and grow Idaho Fitness Factory. We acquired Idaho Fitness Factory at a favorable price and operating the business should provide a healthy return for the Fund with a strong margin of safety. Our partnership with other Alturas businesses including Alturas Capital Partners and Alturas Homes should enable us to add new locations in Idaho and elsewhere. The future is bright at Idaho Fitness Factory!
We continue to look for new opportunities to grow the fund. That includes adding locations to our fitness portfolio and adding additional businesses to the Fund. Please do not hesitate to connect us with business owners who would like to speak to a buyer who will continue their legacy and achieve success by unlocking potential in their employees for decades to come.
If you would like to add to your investment with us or haven’t yet invested but would like to in the future, please fill out the investor survey by clicking on the Investor Survey link in this letter. As opportunities to invest in the fund arise, we will be in touch.
Thank you for your partnership!
Lucas Henken
Alturas Ventures
Blake Hansen
Alturas Ventures
Dear Investors,
We are pleased to present our first quarterly report for the Alturas Business Fund! Starting Alturas Business Partners and launching the Fund was the culmination of many years of preparation. We are passionate about operating businesses, unlocking potential within our employees, and being great partners. The Fund creates a strong, aligned, and long-term partnership with you, our investors, our employees, and the Fund that we cannot wait to operate and grow for decades to come.
We learned a lot from Alturas Capital Partners experience growing the Alturas Real Estate Fund. Those learnings include the importance of economic alignment with our partners, a long-term focus, evergreen businesses, conservative investing, maintaining a margin of safety, and looking for value every day. We look forward to continuing to implement and improve on these learnings as we apply them in The Alturas Business Fund.
We acquired Idaho Fitness Factory on July 1, 2022 which provided many of you, our investors, with the opportunity to invest in the Fund. We are excited about our opportunity to partner with the existing management team to operate and grow Idaho Fitness Factory. We acquired Idaho Fitness Factory at a favorable price and operating the business should provide a healthy return for the Fund with a strong margin of safety. Our partnership with other Alturas businesses including Alturas Capital Partners and Alturas Homes should enable us to add new locations in Idaho and elsewhere. The future is bright at Idaho Fitness Factory!
We continue to look for new opportunities to grow the fund. That includes adding locations to our fitness portfolio and adding additional businesses to the Fund. Please do not hesitate to connect us with business owners who would like to speak to a buyer who will continue their legacy and achieve success by unlocking potential in their employees for decades to come.
If you would like to add to your investment with us or haven’t yet invested but would like to in the future, please fill out the investor survey by clicking on the Investor Survey link in this letter. As opportunities to invest in the fund arise, we will be in touch.
Thank you for your partnership!
Lucas Henken
Alturas Ventures
Blake Hansen
Alturas Ventures
Dear Investors,
We are pleased to present our first quarterly report for the Alturas Business Fund! Starting Alturas Business Partners and launching the Fund was the culmination of many years of preparation. We are passionate about operating businesses, unlocking potential within our employees, and being great partners. The Fund creates a strong, aligned, and long-term partnership with you, our investors, our employees, and the Fund that we cannot wait to operate and grow for decades to come.
We learned a lot from Alturas Capital Partners experience growing the Alturas Real Estate Fund. Those learnings include the importance of economic alignment with our partners, a long-term focus, evergreen businesses, conservative investing, maintaining a margin of safety, and looking for value every day. We look forward to continuing to implement and improve on these learnings as we apply them in The Alturas Business Fund.
We acquired Idaho Fitness Factory on July 1, 2022 which provided many of you, our investors, with the opportunity to invest in the Fund. We are excited about our opportunity to partner with the existing management team to operate and grow Idaho Fitness Factory. We acquired Idaho Fitness Factory at a favorable price and operating the business should provide a healthy return for the Fund with a strong margin of safety. Our partnership with other Alturas businesses including Alturas Capital Partners and Alturas Homes should enable us to add new locations in Idaho and elsewhere. The future is bright at Idaho Fitness Factory!
We continue to look for new opportunities to grow the fund. That includes adding locations to our fitness portfolio and adding additional businesses to the Fund. Please do not hesitate to connect us with business owners who would like to speak to a buyer who will continue their legacy and achieve success by unlocking potential in their employees for decades to come.
If you would like to add to your investment with us or haven’t yet invested but would like to in the future, please fill out the investor survey by clicking on the Investor Survey link in this letter. As opportunities to invest in the fund arise, we will be in touch.
Thank you for your partnership!
Alturas Ventures
Lucas Henken
Alturas Ventures
Blake Hansen
New Aquisition
New Aquisition
New Aquisition
Idaho Fitness Factory
Idaho Fitness Factory
Idaho Fitness Factory
Fitness Clubs Treasure Valley, Idaho 8 locations 28 employees 18,000+ Members
Founded in 2013, Idaho Fitness Factory has grown to eight locations in the Treasure Valley, Idaho. The gym’s focus is on providing a low-pressure and high-quality experience that is contract-free. Idaho Fitness Factory is now the premier local gym. Most importantly, the employees are passionate about fitness and are dedicated to helping support others on their own health journey. With over a decade of success and looking to exit, the founders connected with Alturas in late 2021.
Following extensive due diligence, Alturas partnered with key partners, our investors, to complete the acquisition of Idaho Fitness Factory for $7.5 million.
Our Investors:
Key investors from the Alturas Real Estate Fund
The first investor in the Real Estate Fund
Alturas, LLC
Alturas owners
Alturas employees
Every business is successful because of its people, and Idaho Fitness Factory is no different. Alturas Business Partners is working closely with Idaho Fitness Factory management to elevate the entire staff, and implement the Entrepreneurial Operating System.
New Employee Additions:
Health benefits
Improved 401K match
Paid holidays.
This continued focus on people enables the company to attract and develop top talent, grow and scale.
Alturas Business Partners, in collaboration with its many partners, is excited about what the future holds. With great expansion opportunities in the Treasure Valley, Idaho, and beyond, Idaho Fitness Factory is primed for growth and continued success. Alturas’ construction and real estate expertise help to unlock exponential growth opportunities for Idaho Fitness Factory.
Key Value Drivers
Committed and experienced leadership
Exponential growth potential
Positive impact on the community
Strong core value alignment
Dedicated and passionate staff
Fitness Clubs Treasure Valley, Idaho 8 locations 28 employees 18,000+ Members
Founded in 2013, Idaho Fitness Factory has grown to eight locations in the Treasure Valley, Idaho. The gym’s focus is on providing a low-pressure and high-quality experience that is contract-free. Idaho Fitness Factory is now the premier local gym. Most importantly, the employees are passionate about fitness and are dedicated to helping support others on their own health journey. With over a decade of success and looking to exit, the founders connected with Alturas in late 2021.
Following extensive due diligence, Alturas partnered with key partners, our investors, to complete the acquisition of Idaho Fitness Factory for $7.5 million.
Our Investors:
Key investors from the Alturas Real Estate Fund
The first investor in the Real Estate Fund
Alturas, LLC
Alturas owners
Alturas employees
Every business is successful because of its people, and Idaho Fitness Factory is no different. Alturas Business Partners is working closely with Idaho Fitness Factory management to elevate the entire staff, and implement the Entrepreneurial Operating System.
New Employee Additions:
Health benefits
Improved 401K match
Paid holidays.
This continued focus on people enables the company to attract and develop top talent, grow and scale.
Alturas Business Partners, in collaboration with its many partners, is excited about what the future holds. With great expansion opportunities in the Treasure Valley, Idaho, and beyond, Idaho Fitness Factory is primed for growth and continued success. Alturas’ construction and real estate expertise help to unlock exponential growth opportunities for Idaho Fitness Factory.
Key Value Drivers
Committed and experienced leadership
Exponential growth potential
Positive impact on the community
Strong core value alignment
Dedicated and passionate staff
Fitness Clubs Treasure Valley, Idaho 8 locations 28 employees 18,000+ Members
Founded in 2013, Idaho Fitness Factory has grown to eight locations in the Treasure Valley, Idaho. The gym’s focus is on providing a low-pressure and high-quality experience that is contract-free. Idaho Fitness Factory is now the premier local gym. Most importantly, the employees are passionate about fitness and are dedicated to helping support others on their own health journey. With over a decade of success and looking to exit, the founders connected with Alturas in late 2021.
Following extensive due diligence, Alturas partnered with key partners, our investors, to complete the acquisition of Idaho Fitness Factory for $7.5 million.
Our Investors:
Key investors from the Alturas Real Estate Fund
The first investor in the Real Estate Fund
Alturas, LLC
Alturas owners
Alturas employees
Every business is successful because of its people, and Idaho Fitness Factory is no different. Alturas Business Partners is working closely with Idaho Fitness Factory management to elevate the entire staff, and implement the Entrepreneurial Operating System.
New Employee Additions:
Health benefits
Improved 401K match
Paid holidays.
This continued focus on people enables the company to attract and develop top talent, grow and scale.
Alturas Business Partners, in collaboration with its many partners, is excited about what the future holds. With great expansion opportunities in the Treasure Valley, Idaho, and beyond, Idaho Fitness Factory is primed for growth and continued success. Alturas’ construction and real estate expertise help to unlock exponential growth opportunities for Idaho Fitness Factory.
Key Value Drivers
Committed and experienced leadership
Exponential growth potential
Positive impact on the community
Strong core value alignment
Dedicated and passionate staff
Fund Description
The Alturas Business Fund is an evergreen business investment fund formed to provide accredited investors access to a diversified portfolio of small to medium-sized businesses. The Fund focuses on acquiring and operating businesses with sustainable and predictable cash flow that produce attractive risk-adjusted returns in the Intermountain West and Pacific Northwest, starting with Idaho. The Fund is a $100 million equity and debt offering.
Fund Description
The Alturas Business Fund is an evergreen business investment fund formed to provide accredited investors access to a diversified portfolio of small to medium-sized businesses. The Fund focuses on acquiring and operating businesses with sustainable and predictable cash flow that produce attractive risk-adjusted returns in the Intermountain West and Pacific Northwest, starting with Idaho. The Fund is a $100 million equity and debt offering.
Fund Description
The Alturas Business Fund is an evergreen business investment fund formed to provide accredited investors access to a diversified portfolio of small to medium-sized businesses. The Fund focuses on acquiring and operating businesses with sustainable and predictable cash flow that produce attractive risk-adjusted returns in the Intermountain West and Pacific Northwest, starting with Idaho. The Fund is a $100 million equity and debt offering.
Our Investment Offerings
Summary of Equity Offering
Our equity offering allows investors to invest in a diversified portfolio of businesses focused on generating excellent ongoing returns from operations. The Fund's offering is best suited for investors who understand and align with the Fund's investment strategy and value long-term partnerships.
Targeted total realized return: 20%
No Preferred Return
Profit Split: 70% investors, 30% manager
Fees: 1.5% asset management fee
Minimum investment: $100,000
Our Investment Offerings
Summary of Equity Offering
Our equity offering allows investors to invest in a diversified portfolio of businesses focused on generating excellent ongoing returns from operations. The Fund's offering is best suited for investors who understand and align with the Fund's investment strategy and value long-term partnerships.
Targeted total realized return: 20%
No Preferred Return
Profit Split: 70% investors, 30% manager
Fees: 1.5% asset management fee
Minimum investment: $100,000
Our Investment Offerings
Summary of Equity Offering
Our equity offering allows investors to invest in a diversified portfolio of businesses focused on generating excellent ongoing returns from operations. The Fund's offering is best suited for investors who understand and align with the Fund's investment strategy and value long-term partnerships.
Targeted total realized return: 20%
No Preferred Return
Profit Split: 70% investors, 30% manager
Fees: 1.5% asset management fee
Minimum investment: $100,000
All projections are hypothetical and predicated upon various assumptions that may or may not be identified as such. The future operating and financial performance information contained herein is for illustrative purposes and is not intended to portray any sort of targeted or anticipated returns. There can be no assurance that the Fund will achieve its investment objectives and actual performance may vary significantly.Alturas Ventures, LLC and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice.